Immigration

ASSIGNMENT OBJECTIVES:

1. To demonstrate ability as individual to research, analyse and interpret the international environment forces as they apply to a selected emerging market.

2. To apply theoretical concepts and models in support of business analysis.

3. To produce a professional report and recommendations which would command respect in business circles.

Option B: As a Global Business expert, assess the following key global issues – (Choose one from the following.)

• Gender [in]Equality
• Climate Change
• Immigration

Equal marks apply to all 3. You should clearly quantify the scale of the issue globally, the implications for governments and businesses, and the feasible solutions.

Please note that I have already told my lecture that I will do work on Immigration so you should work on it.

Assessment Criteria / Indicative Marking Scheme

Heading Required
Content and structure

50% Answers topic questions thoroughly and convincingly.
Elaboration and justification of points/arguments made.
Businesslike and concise analysis – professional tone.
Logical organisation and presentation of the paper – flows well.
Conclusions and predictions original and compelling.
Sources

30% Variety of sources.
Legitimacy of sources.
Currency and relevance of sources.

Language and style
20% Appropriate vocabulary, formal academic tone.
Correct spelling, punctuation, grammar, page numbering.
Fluent sentences, clear transitions, and effective paragraph structure.
Referencing – appropriate standard [see below]
Total 100% NB see above – individual grades may differ.

General Requirements

Course Structure and Delivery : “Eight Trains”

All Moodle sections are numbered to accord with the 8 themes below. Exam papers are also constructed around these themes.

Please note that:-
• We will not be going sequentially through the chapters of any text. This is because texts are not sufficiently broad or current to encompass the issues we have in scope. All slide decks for this Module are up top on Moodle.

• Moodle [top box] contains a week by week specification of our agenda and related materials.

• We will not slavishly cover every bullet point on every slide. Our requirement is to cover critical current events. This means that we must focus only upon the more important aspects of any topic in a slide presentation. This in turn creates the space for us to review the most current readings and video materials.

• Some of our “trains” will leave the station at the same time and travel on parallel tracks. This will allow us to position key topics early, and also to cover relevant theory to support your assignment preparation.

The 8 trains are:-

1. Globalisation and Free Trade.
This section looks at the theoretical justification for international trade. It also examines the key question of Globalisation – the forces that drive it, and the arguments for and against free trade and globalisation.
There is a selection of material on Moodle.

2. The Global Financial Crisis and Global Economy
The global financial crisis is a critical issue. No textbook can be fully current, so by using a combination of videos, readings and tuition, we will review the causes of the crisis, and the various remedies being applied.
We also consider the evidence suggesting that another, potentially bigger, crash may be imminent [Chinese economic bubble, American Bond Market / Dollar bubble].
It is vitally important that students keep up to date with current developments via newspapers and online resources. Commentators such as David McWilliams and Colm McCarthy are informative. Other notable sources are Peter Schiff, Paul Krugman and Joseph Stiglitz. Once again there is no “right answer”.

Video materials:
• “The Love of Money”. This 3-part documentary is available on tradeitdontdateit.com.
• “Inside Job” [movie documentary].
• “Why the meltdown should have surprised no-one” [Peter Schiff] – available on youtube.
• “The bank that ran out of money” – BBC documentary on Royal Bank of Scotland, available on youtube.
• “How China fooled the world” [dailymotion.com]
• https://www.youtube.com/watch?v=gSp6JIaPYsI [Peter Schiff 2016 “The Real Crash”]

Library books:
• “How an economy grows and why it crashes” [Peter Schiff]
• “Crash Proof 2.0” [Peter Schiff]
• “The Real Crash” [Peter Schiff]
• “Back from the Brink” [Henry Paulson]
• “A colossal failure of common sense” [Laurence McDonald re Lehmans collapse]
• “Making it Happen” [Royal Bank of Scotland], Martin, 2013
• “The courage to act” [Ben Bernanke”]

3. European Union and Monetary Union.
The EU as a Single Market is a very significant trading bloc. We will examine the thinking behind the Single Market, and its benefits for citizens, consumers and businesses. We also look at Monetary Union – what has been achieved since the Euro was created in 1999, the major challenges now faced, and how/whether the Euro can be “fixed”.
Students should regularly read over FT, Economist, and the Sunday Times business supplement. Suggested – David McWilliams, Colm McCarthy. NB – any trusted Economist is a valid source – French, German, other.

Library Books :
• “Plan B why leaving the Euro could save Ireland” Cormac Lucey, 2014
• “And the weak suffer what they must?” – YanisVaroufakis, 2016
• “The Euro and its threat to the future of Europe” – JoesphStiglitz
• “Europe’s Deadlock” – David Marsh

4. Economic Theory and Ideology

a) We consider the contrasting Economic ideologies which have dominated the last 150 years – Keynesian vs. Free Market [Hayek, Friedman, Schiff, Austrian School]. Paul Krugman is a modern day Keynesian.

Should Government actively intervene in the economy to “manage/regulate” it, OR should the Free Market remain free? What about the Marxist alternative to Capitalism?

Books [available in DBS Library]:
• “Keynes – Hayek: the clash that defined modern economics” – Wapshott 2012
• “Keynes-Hayek: the meaning of knowing” – Dalton 2013[Kindle book]

Video materials:-
• “Masters of Money” – Keynes, Hayek, Marx
• Keynes / Hayek debates [see Moodle for weblinks]

b) We consider the “Efficient Market Hypothesis” and contrast it with “Behavioural Finance” thinking – what should we conclude, especially post the financial crisis?

5. Forces in the International Business Environment [Pestel].
We study the forces in order to answer these questions –

a) Which international markets [countries] are attractive / unattractive?

b) Which means of market entry should we use?

c) Can we standardise our Product/Service and its Marketing across all markets, or does the Pestel analysis tell us that there are fundamental differences in markets/consumers , which mean we must adapt the Product / service / Marketing approach?

d) Pestel analysis also allows us to understand key Global issues such as Gender Equality, Immigration and Climate Change

6. Market Assessment and Entry Strategies.
Building on our Pestel analysis above, we look in more depth at a methodology which will allow us to choose between potential new markets [and to assess those we are already in]. Having selected the most attractive, we then consider the various means of entry and again determine the most suitable.

7. Leading and Managing International Businesses.
Here we use a selection of chapters from the text by Luthans&Dohto consider the management implications of operating in different markets with employees of different cultures. Key areas are Leadership, Corporate Governance, Ethics, Corporate Social Responsibility, Motivation, Decision making and Communication.

• “Interviews with the Leaders” – CNBC series, double DVD set available DBS Library [and on Amazon!]
• Video cases on Governance – Lehmans, RBOS

8. Emerging Economies
Here we apply our theoretical principles to an actual international market.

Recommended Reading:
Hill: International Business – Competing in the Global Marketplace, 10th edition 2014 [McGraw – Hill]

Ball, Geringer, Minor, McNett (2012) :International Business, the challenge of global competition [McGraw-Hill].

Luthans&Doh (2014) International Management; Culture, Strategy and Behaviour. 9th edition, McGraw-Hill.

Supplementary reading:
Peng [2013] Global Business, Engage Learning, 3rd edition.

Hill et al [2013] Global Business Today 8th edition [McGraw Hill]

Gaspar et al [2013] Introduction to Global Business – understanding the international environment and global business functions [International Edition, cEngage Learning].

Thomas [2014] Cross-Cultural Management Essential Concepts, [3rd edition, Sage Publications].

Buckley [2011] Financial Crisis – Causes, Context and Consequences, [Prentice Hall].

Journals: [indicative only – there are many]
Business Week
The Economist
Fortune
Financial Times
Harvard Business Review
China Today
McKinsey Quarterly
Journal of International Business Studies

On-line resources: [indicative only – there are many]

NB it is VITAL that you are familiar with searching the DBS Library electronic database, via your Shibboleth account. You CANNOT maximise your assignment and exam results otherwise!!

www.economist.com
www.FT.com
www.europa.eu
www.ceps.be [centre for European policy studies]
ey.emergingmarkets.com [this is on the very good Ernst & Young site] – and in general the websites of consulting firms such as PWC, Accenture, McKinsey, BCG etc should be monitored.
www.worldbank.org
www.imf.org
World Economic Forum [weforum.org]

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